The first wholly-Chinese owned law firm in the United Kingdom was launched in London this week, aimed solely at catering to China-based clients.
YangTze Law Firm is owned by Steve Ng, a Hong Kong and Beijing-based lawyer, and Winston Gao, Shenzhen-based partner at Jun Yan Law Firm.
The firm has been set up as an Alternative Business Structure, following approval from the Solicitors Regulation Authority that allows foreign ownership, since both Ng and Gao are not qualified to practice law in the UK.
The firm will serve the clients of the Yang Tzejiang Legal Network, which includes 3000 lawyers and 40 firms across the Chinese mainland.
Exeter-based law firm Michelmores will provide back-office support and regulatory help to the new law firm. Malcolm Dickinson, managing partner of Michelmores, will be YangTze Law Firm’s chief executive, with And Ng and Gao acting as co-executive directors.
In the past few years, Chinese firms such as Zhong Lun and Yingke have opened offices in London. King & Wood Mallesons and Dacheng Dentons, two international firms with a strong PRC presence, also have London offices.
"There are many Chinese firms looking to invest and do business in the UK and Europe, but for whom cultural and legal differences can be a real barrier. We are hopeful that YangTze Law will help to unlock the door for a new group of Chinese investors, and we believe that its launch is great news for both the UK economy and Chinese businesses,” Ng said in a statement.
